Last year I predicted that the route that Europe would go would be fiscal integration coupled with explicit mechanisms for allowing an exit from the euro zone. For example, in November during the Italian crisis I wrote:
I continue to predict that the move will be toward temporary ECB intervention followed by tighter fiscal integration and explicit mechanisms for euro zone exit. Sources indicate that Germany may already be preparing for a Greek exit from the eurozone. Now we learn that the Germans may also be pushing for euro area fiscal integration and oversight as well.
It's been almost a year since I wrote this. So we have a lot better understanding about what European policy makers intend to do. And most of what I wrote in that post has come to pass, from the move toward a super s...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.